Unmanned Aerial Vehicle Market Analysis

Application (Military, Emergency Medical, Commercial, Consumer, Government)

By 2037, military segment in the unmanned aerial vehicle (UAV) market is estimated to cross USD 14.2 billion. Significant growth in the revenue share is anticipated as a result of their ability to conduct drone strikes. UAVs deliver aircraft weaponry, such as bombs, ATGMs, or missiles, to strategic locations and strike. Combat UAVs have varying levels of control and are usually controlled by humans in real-time. For instance, according to Defence Industry Europe in 2023, the Turkish drone manufacturer Baykar and the Romanian Ministry of National Defense made a deal for Bayraktar TB2 UAVs. Romanian Ministry also awarded USD 321 million to the Turkish defense in this purchase.

In addition, the emergency medical segment in the UAV market is predicted to record significant growth during forecast period. In the situation of environmental calamity, where quick action is essential to boost patient care, this is the most promising service. During the pandemic, medical drones gained popularity all over the world. Where direct human-to-human contact was avoided for infection control reasons, PPE (personal protective equipment), COVID-19 tests (SARS CoV-2), laboratory specimens, and vaccines were delivered via drones.

End use (Government & Defense, Energy, Power, Oil & Gas, Construction & Mining, Agriculture, Forestry & Wild Life Conservation, Public Infrastructure & Homeland Security, Hospitals & Emergency Medical Services, Transportation & Logistics, Event Management)

The government & defense segment in the UAV market is expected to be the dominating sub-segment with a substantial share attributed to the increasing military and security community's use variety of tasks, such as monitoring, surveying, mapping, transport, and combat. For instance, to create opportunities for the future integration of UAVs for refueling in military operations, the U.S. Navy and Boeing have demonstrated air-to-air refueling operations using an Unmanned Aerial Vehicle, specifically Boeing's proprietary MQ-25 T1 test vehicle. Growth in this sector will boost the home security drone value in the near future.

Fully Autonomous (Individual Autonomous System, Drone-in-a-Box (DiaB))

The individual autonomous system in the unmanned aerial vehicle (UAV) market is poised to be a faster-growing segment with a notable CAGR by the end of the forecast period. This tremendous gain is credited to the device that requires a whole system to function and is controlled by software. The need for individual autonomous systems is a surge since they can function independently to complete tasks and missions. As part of Autonomy Prime, Near Earth Autonomy announced that it has been chosen by the US Air Force's AFWERX program in 2023 to develop a Reliability Standard for Autonomous Aerial Transport. This partnership demonstrates Near Earth's dedication to pushing the boundaries of autonomous aircraft development.

Our in-depth analysis of the UAV market includes the following segments: